Shanghai bourse breaches 3,000 mark

Chinese shares rallied for a third day on Tuesday, as 18 securities stocks soared by daily limit and the benchmark Shanghai Composite Index edged over 3,000.

The Shanghai index closed at 3021.52, up 2.31 percent of 68.1 points on Tuesday, while Shenzhen Component Index jumped 1.56 percent to 10668.62.

Financial sector led the gain, as 18 securities stocks, including Citic Securities, Haitong Securities, Merchants' Securities and GF Securities, jumped by the daily limit of 10 percent. Nanjing Bank and China Construction Bank rose 8.86 and 6.42 percent respectively.

The regulatory hasn't issued any instruction on margin trading business, which coincides with its principle of less market intervention, said wealth management of China Merchants Bank in a report on Tuesday.

Steel and mining stocks remained bullish on Tuesday, as Panzhou Refined Coal, Yanzhou Coal and Beijing Shougang jumped more than 9 percent.

The CSI 300 Index advanced 2.68 percent close at 3303.4.

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